Super Group revenues reached a record €414.7m in Q2, with CEO Neal Menashe insisting the company is continuing to “optimise” its global footprint after its exit from the US market.
Menashe said the Betway owner was “glad” to have found a conclusion to its US woes, with its exit costing the operator €16.4m in adjusted EBITDA.
The company admitted upon the market exit announcement in July that it expected to incur costs and charges as a result of the move, with adjusted EBITDA reaching €81.9m.
Excluding the US, Super Group recorded its highest quarterly adjusted EBITDA to date of €98.3m.
Chief financial officer Alinda van Wyk revealed Super Group has raised its ex-US adjusted EBITDA guidance for the full year 2024 to “greater than €300m.”
Menashe added: “I'm really excited to welcome English Premier League champions, Manchester City, and South Africa’s Premier Soccer League, now known as the Betway Premiership, to our brand sponsorship portfolio.
“Our outlook for the remainder of the year is strong, and we look forward to making 2024 a super year for Super Group.”
The €414.7m in revenue translated to a nine per cent jump year-on-year from €380.8m and was driven by growth in Africa and North America – predominantly Canada – despite declines in the Middle East and Asia-Pacific markets.
Super Group’s Q2 loss was €0.8m while profit was €27.6m.
Monthly active customers climbed by 21 per cent to 4.5 million during Q2 from 3.7 million in Q2 2023.
